M.B.A. in Business Administration
The Stevens MBA program offers various formats to cater to diverse student needs, inclu...
M.S. in Financial Engineering
Hoboken, New Jersey
INTAKE: Jan & Sept
Program Overview
The M.S. in Financial Engineering is a 30-credit degree program, generally completed in 1.5 to 2 years. It demands a rigorous quantitative approach, emphasizing stochastic modeling, optimization, and simulation techniques. The program comprises six core required courses and four elective courses, allowing for specialization. Stevens offers both on-campus and fully online options, providing flexibility for diverse student needs, including those of working professionals. The program is recognized for its excellence, having been ranked among the top Financial Engineering Master's programs in the United States by QuantNet.
STEM-designated: Yes, the Stevens Institute of Technology M.S. in Financial Engineering program is STEM-designated. This is a significant advantage, particularly for international students. The STEM designation makes them eligible for a 24-month extension of their Optional Practical Training (OPT) in the United States, allowing for a total of up to three years of valuable post-graduation work experience. This underscores the program's strong mathematical, computational, and scientific rigor, which is highly valued by quantitative finance employers.
Curriculum: The 30-credit curriculum builds a robust foundation in quantitative finance. Core required courses typically include: Stochastic Calculus for Financial Engineers, Pricing and Hedging, Computational Methods in Finance, Portfolio Theory and Applications, Advanced Derivatives, and a capstone Project in Financial Engineering or a Master's Thesis. Students select four elective courses to specialize, often encouraged to pursue a graduate certificate in areas like Algorithmic Trading Strategies, Financial Analytics, Financial Risk Engineering, Financial Statistics, or Financial Computing. The program emphasizes hands-on experience with industry-standard tools and languages such as Python, R, and C++, and provides access to professional financial databases like Bloomberg and Refinitiv.
Research Focus: The M.S. in Financial Engineering program at Stevens has a strong applied research focus, aiming to produce experts who can creatively apply technology and quantitative methods to build innovative solutions, design new models, predict risk, and optimize portfolios. Faculty members are actively engaged in research, including AI applications in quantitative finance, fraud detection, high-frequency trading, asset pricing, systemic risk, and portfolio optimization. Stevens also collaborates with Rensselaer Polytechnic Institute (RPI) to host the Center for Research toward Advancing Financial Technologies (CRAFT), the first FinTech-focused Industry University Cooperative Research Center (IUCRC) funded by the National Science Foundation. This center provides students with significant opportunities to delve into cutting-edge research in financial technology and network with academics and industry professionals.
Industry Engagement: Stevens Institute of Technology places an extremely high priority on industry engagement for its Financial Engineering program. Its prime location, directly across from Wall Street and major global financial institutions in New York City, offers unparalleled access to industry leaders, networking events, and real-world finance experiences. The curriculum is continuously updated to reflect the latest market trends and technological advancements, such as machine learning, data analytics, and blockchain in finance. The program's faculty often have extensive industry experience, bringing practical insights into the classroom. Stevens also provides access to advanced financial labs like the Hanlon Financial Systems Lab and hosts regular seminars with guest speakers from industry, ensuring graduates are well-connected and industry-ready.
Global Perspective: Stevens Institute of Technology fosters a global perspective within its M.S. in Financial Engineering program through its diverse international student body and the inherently global nature of financial markets. The program attracts students from around the world, creating a multicultural learning environment that enriches classroom discussions with varied insights into international financial challenges and regulatory landscapes. The quantitative and computational skills gained are universally applicable across global financial centers. The program's focus on systemic risk and financial regulation, which often have international implications, further prepares graduates to operate effectively in a globally interconnected financial ecosystem.
Location
Hoboken, New Jersey
Score
IELTS 6.5
Tuition Fee
USD 46048
Postgraduate Entry Requirements
Academic Qualifications: Applicants for postgraduate programs typically require a minimum academic achievement of 70% or above in their bachelor's degree.
English Language Proficiency:
- IELTS: Overall band score of 6.5 or 7.0 with a minimum of 6.0 in each component.
- TOEFL: Overall score of 74 or higher.
- DET (Duolingo English Test): Minimum score of 110.
Stevens Institute of Technology offers a variety of scholarships specifically designed to support international students, helping to make a world-class education more affordable and accessible. These scholarships recognize academic excellence, leadership potential, and contributions to the campus community.
Merit-Based Scholarships: Stevens provides competitive merit scholarships for international undergraduate and graduate students based on academic performance, standardized test scores, and other achievements. These awards can significantly reduce tuition costs and are automatically considered during the admissions process for many programs.
Need-Based Financial Aid: While limited, some need-based aid options are available to international students. Applicants are encouraged to provide detailed financial information to be considered for such assistance.
Graduate Fellowships and Assistantships: International graduate students may be eligible for fellowships, research assistantships, or teaching assistantships, which offer tuition waivers and stipends. These opportunities not only provide financial support but also valuable hands-on experience in research and academic work.
Special Scholarships: Stevens occasionally offers specialized scholarships targeting students from certain countries, underrepresented fields, or those pursuing specific disciplines like engineering, business, or cybersecurity. Prospective students should check the official Stevens website or contact the admissions office for current scholarship opportunities.
A Master of Science (M.S.) in Financial Engineering from Stevens Institute of Technology, located in Hoboken, New Jersey, directly across from the global financial epicenter of New York City, is a highly specialized and STEM-designated program that uniquely prepares graduates for the quantitative demands of the modern financial sector.
Quantitative Analyst (Quant): This is a primary career path where graduates develop and implement complex mathematical models for pricing financial instruments, managing risk, developing trading strategies, and optimizing portfolios across various asset classes (e.g., equities, fixed income, derivatives).
Risk Manager/Analyst: Specializing in identifying, measuring, and mitigating financial risks (market, credit, operational, systemic) within financial institutions. They use sophisticated models to assess potential losses and ensure regulatory compliance.
Algorithmic Trading Strategist: Graduates design, test, and implement automated trading strategies, leveraging their understanding of market microstructure, statistical analysis, and programming to execute high-frequency and low-latency trades.
Financial Software Developer/Quant Developer: These professionals build and maintain the software systems and tools used in quantitative finance. They translate complex mathematical models into efficient, robust, and scalable code, often working with C++, Python, and other specialized languages.
Portfolio Manager/Analyst (Quantitative Focus): Applying quantitative methods to construct, manage, and optimize investment portfolios for institutional or high-net-worth clients, focusing on maximizing returns while managing risk using data-driven insights.
Structurer: Involved in the creation of complex financial products, particularly derivatives, tailored to specific client needs or market opportunities. This requires a deep understanding of pricing, risk, and market dynamics.
Financial Modeler: Builds and validates financial models for various purposes, including valuation, forecasting, budgeting, and scenario analysis, for investment banks, hedge funds, or corporate finance departments.
Data Scientist (Financial Services): Utilizing their strong analytical and machine learning skills, graduates extract insights from vast financial datasets, build predictive models, and identify trends to inform investment decisions, fraud detection, or customer behavior analysis.
FinTech Specialist/Analyst: Engages with the rapidly evolving financial technology sector, working on innovative solutions involving blockchain, artificial intelligence, machine learning, and big data to transform financial services.
Treasury/Asset-Liability Management (ALM) Analyst: Focuses on managing a financial institution's balance sheet, liquidity, and interest rate risk, using quantitative models to optimize funding, investments, and capital structure.
